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Business Plan Writer vs. Business Plan Strategic Consultant

People often ask me, “What are my options for writing a business plan?”

At the highest level, there are two options, writing it yourself or hiring someone else to do it for you.

The benefits of writing the business plan yourself are that you will save money and you will learn a lot about your business by going through the research and financial modeling processes.

However, this can be a risky option if you haven’t written a business plan before and/or if you haven’t raised capital before.

It is important to have a solid understanding of the way investors see value in a company as well as the milestones they care about if you are going to be successful writing the business plan yourself.

Furthermore, even if you have a good grasp on the investors’ perspective, you often miss out on objective, third-party pushback that can elevate your business plan to the next level. Lastly, as a time-strapped entrepreneur, spending several hundred hours writing your plan probably isn’t the best use of your time as you should be focusing on developing your product, expanding your team, and establishing
awareness with your customers.

While hiring someone to write your business plan for you will save you a lot of time, the capital outlay may or may not be worth the time savings – who you hire to write your business plan will make all the difference.

Hiring a Business Plan Strategic Consultant that can elevate your plan and strategy to help increase your chance of nailing the first impression with investors is money well spent. However, hiring a Business Plan Writer that merely saves you time but doesn’t add value to your pitch is a waste.

Below we’ve provided the differences between a Business Plan Writer and a Business Plan Strategic Consultant.

A Business Plan Writer can be half the cost, or more, of a Business Plan Strategic Consultant. Typically, these savings come at the expense of the quality of the final product (you get what you pay for type of thing).

A Business Plan Writer typically completes a business plan in far less time simply because they can only put a limited amount of time into the plan in order for their business model to be profitable.

The problem with this model is that a business plan isn’t complete once a certain amount of time has passed; a business plan is complete once all red flags and issues have been identified, addressed, and overcome.

At the end of the day, a Business Plan Writer will require you to present the content, solutions, and answers that they will plug into a cookie-cutter template. While a Business Plan Writer can certainly save you time, the plan will ultimately only be as good as the information and strategies you provide them.

Hiring a Business Plan Strategic Consultant is certainly more expensive than hiring a Business Plan Writer or writing the plan yourself. However, the result will pay off in the long run when it comes to providing yourself with the best chance possible of successfully raising capital.

First a foremost, a Business Plan Strategic Consultant brings specific experience and education in the startup sector beyond expertise in broad business writing.

Second, a Business Plan Strategic Consultant understands what it takes to attract capital. They have an intimate knowledge of the capitalization timeline, who invests at the various stages, and what investors need to see at each stage. They will be able to coach you on the milestones and accomplishments you should be focusing on while crafting the investment story.

Third, a Business Plan Strategic Consultant takes a holistic approach to assessing your business including monetization strategies and business models, target markets and competitive differentiation, management team and personnel plan, sales and marketing communication strategies, and more.

Fourth, a Business Plan Strategic Consultant identifies red flags and gaps in your model by asking tough questions and challenging your assumptions in a way that is constructive and educational.

Finally, a Business Plan Strategic Consultant will compile all of this information in investor friendly documentation (business plan, executive summary, pitch deck, financial projections, one-page business plan, etc) based on your specific needs and audience.

The Startup Garage is a recognized Business Plan Strategic Consultancy that helps founders raise capital and get out of the garage through proven business plan writing and startup strategy consulting services. Feel free to contact us for a free consultation!

The esteemed ranking is based on criteria included the percentage of graduates who created their own company, the percentage of companies still operating at the end of 2014, whether it was their main source of income and how the school and the alumni network helped set things up.

The event was purposefully created to evolve and sustain a community of aspiring as well as seasoned entrepreneurs/business owners. Ultimately, bringing together students, alumni, investors and entrepreneurs for an interactive evening of coaching and collaboration.

3. Anyone can benefit from attending the conference.
“The USD Legacy Entrepreneurship Conference is one of our biggest events at USD for Entrepreneurs.It is incredible opportunity for anyone who has ever had an inspiration to be an entrepreneur to get the “real” behind the scenes story from some of San Diego’s top Entrepreneurs.

Participants will network with people who have done it before and can share their stories of “If I started my venture today, how would I do it differently” and “What I would tell my 21 year old self”. Making mistakes as an entrepreneur can be very expensive, and an event like ULEC gives people the opportunity to ask questions, get feedback, and gathered some lessons learned from top entrepreneurs.

It is also a great opportunity to meet our current innovative students and the thriving USD startup community. social entrepreneurs who are changing the world and want to share their stories will also be on the panels adding a “changemaker” perspective” Regina Bernal, Entrepreneurship and Experiential Learning

4. There is no cost to attend. It’s a completely FREE event, although space is limited.

*HINT sign up early to reserve your seat.*
When was the last time you got to network in a beautiful setting with highly successful individuals ready and willing to share with you their knowledge and insights at no cost?

5. Conference panelist include a blend of unique entrepreneurs, each with their own story and journey to share.

6. At the conclusion of the event you’ll leave with actionable deliverable information and results in order to turn big ideas into reality.

You’ll leave with 3.5 hours of solid startup advice, tried and tested by successful entrepreneurs. Plus you’ll have a newfound community of entrepreneurs you can easily connect with online and offline #USDENTREPRENEUR for further discussions.

Now that you’ve decided to join us be sure to say hello to The Startup Garage Team!

How To Optimize Your Board of Advisors

Every company – from high-growth startups to slow-growth enterprises – can benefit from an advisory board if it is well-structured and well-managed.

Some of the obvious benefits of an advisory board include credibility for you and the company, domain expertise, and/or a well-established professional network.

This blog post will provide guidance for assembling a well-structured advisory board as well as management tips for extracting the most value from your advisors.

Assembling Your Advisory Board

Step 1: Determine Your Needs

Start by looking at the most important functions of your particular business, it may be technology, sales, marketing, financial management, daily operations, etc. Next, look at your and your current team’s expertise and core competencies to identify weaknesses and gaps.

These gaps and weak areas are a good place to start in terms of identifying the types of advisors that would be able to add the most value. Be honest with potential advisors about your strengths and weaknesses and how you are hoping they can help.

Next, get very clear on your short term and long term goals. Do you need investor introductions? Or perhaps you are looking to partner with a major player in your industry? Understanding your goals can help you better understand the type of advisor needed for your board.

Step 2: Determine Compensation and Level of Involvement

Most good advisors, depending on your relationship with them, will likely expect something in return for their time, network, and knowledge. While you can certainly compensate your advisors monetarily, the most common method of compensation is providing a minor percentage of equity (anywhere from less than 1% up to 2% or more).

Some advisors will be willing to commit more of their time, connections, and expertise than others. Before approaching potential advisors, determine levels of involvement with distinct compensation packages for each and present them with options.

Step 3: Passion Is a Must

In order for any advisor relationship to be successful it is important that they are not only capable of providing expertise but they are passionate about you and your company. Without passion their expertise will more than likely fall flat.

Extracting Value from Your Advisory Board

Step 1: Information is King

Your advisors are likely very busy people and you want to respect their time. However, in order for them to be effective advisors they need to be informed on the topics that you are seeking to cover.

Provide them with regular, scheduled newsletter style updates that are uniform, easy to digest, and highly informative. Be sure to set agendas for each meeting with a clear list of action items that you’d like to cover.

Submit the agenda a few weeks prior to the meeting with relevant information so that your advisors have time to prepare. During your meeting be sure to stick to the agenda and keep the conversations on task.

Step 2: Keep Your Ears and Mind Open

Your advisory board was not setup so that you could have a room full of heads nodding up and
down in agreement. The purpose of the advisory board is to offer alternative ways of thinking that you may have yet to consider. Set aside any presumptions you may have and sincerely consider everything thrown on the table.

While you should certainly ask questions and challenge ideas, you don’t want to waste everyone’s time (including your own) by not considering alternative viewpoints.

Step 3: Stay In Touch and Follow Up

Be sure to follow through on any action items that you and your advisors come up with during your meetings. This is not only a sign of respect but seeing that you are taking their insight seriously will encourage your advisors to remain engaged.

Lastly, be sure to follow up with your execution of action items along with any key findings or results. This information can be included as a part of your regular, scheduled newsletter updates discussed above.

On Saturday Sept 19th, Hera Venture Summit unveils a new face of Women in Tech Events

Below are 7 undeniable reason YOU’ll want to attend!

1. The Hera Venture Summit offers the ultimate platform for female founders and funders to discuss and collaborate in launching, growing and sustaining profitable businesses.

2. There’s not just 1 but 2 Keynote Speakers, excited to share their experience and expertise.

Elissa Shevinsky, a Startup CEO and Co-Founder at JeKuDo Privacy Company, a veteran coder, and editor of ‘Lean Out’ which encourages women to create their own culture in Tech Startups.

Consuelo Valverde, an Entrepreneur turned VC at SV LATAM Fund. At the age of 20, she founded one of the first PC manufacturing companies in Mexico and later on an IT learning institute.

3. Beautiful environments fuel inspiration. The event takes place at the University of San Diego an architectural dream, named by Travel+Leisure magazine one of the most beautiful college campuses in the United States.

4. One-day intensive and interactive event. Often times events are spread across a weekend, 3 days, or even week long. The Hera Venture Summit takes Startup growth hacking to a new level, fully emerging everyone into the conversation in an action packed 10 hour event.

5. The theme of the event centers around “Building Bridges” both locally, binational, and globally. Holding course to the idea that through each other’s diversity comes expansion, both personally and professionally.

6. 7 Panels of unique content, covering everything from topics of gender investing and female founder ROI to how to become a female angel investor.

*Tyler Jensen founder ofThe Startup Garage will be will be part of the panel

The White House Challenges Inequity In Startup Tech

On Tuesday August 4, 2015 President Obama hosted the first-ever White House Demo Day.

The Demo Day was a chance for 90 entrepreneurs from over 30 diverse companies across the country to share their entrepreneurial journey.

Conversations centered around empowering underrepresented entrepreneurs and encouraging venture capital firms and Tech Giants to invest women and minority groups. As it currently stands The White House says about 3 percent of U.S. startups backed by venture capital are led by women, and about 1 percent are headed by African-Americans.

“We’ve got to make sure that everybody is getting a fair shot— the next Steve Jobs might be named Stephanie or Esteban,” Obama said. “We’ve got to unleash the full potential of every American— not leave more than half the team on the bench.”

The event opened the doors for communication, while inspiring diversity in America’s startup culture and economy. It also included strong calls to action to both the public and private sectors.

On the public side of things, the administration has been working with over 40 venture capital firms (including but not limited to A16Z, Intel Capital, Kleiner Perkins Caufield Byers, and Scale Venture Partners) that collectively have more than $100 billion under management, and are committing to new hiring practices that advance opportunities for minorities.

“You actually can make better-informed and more profitable investment decisions with a diverse team,” he said. “This isn’t about social justice alone. This is about social justice and making more money.” said said Ray Leach, chief executive of JumpStart

Tech giants like Google, Amazon and Facebook also pledged to foster inclusion in the tech space, announcing new plans to boost hiring of women and minorities, as well as additional innovative approaches.

For example; Google announced it will be hosting it’s first ever Women’s Demo Day later this year. The event will feature women-led startups from around the country pitching to a group of judges at the Googleplex. Meanwhile, IBM is committing to expanding its partnership with Girls Who Code to empower the next generation of female software developers.

The United States has always been a melting pot of opportunity, attracting and highlighting diverse talent and entrepreneurial skill-sets. In the 21st century a successful “marriage” between the U.S. government, Startup tech industries , VC firms, and entrepreneurs has the power to bring the American Dream to life in ways previously unprecedented.

A Venture Capital Database with detailed research reports, that helps track the world’s most promising private companies, their investors, acquires and the industries they compete. Helping entrepreneurs make smarter, faster, wiser business decisions.

The founder of @StartupGrind (another resource to take notice of) As he grinds and hustles through the Startup community. *SideNote: He recently turned up his Instagram game introducing StartupGrinder, for a “behind the scenes” perspective.

Well you guessed it… Quotes that only an entrepreneur would love & other innovative wisdom to ponder. *Side Note at the time of writing this article @Startupquote has been on Twitter hiatus since May 18th 2014. Technically bouncing them off our list, but still worth referencing in times of need.

The Importance of Bookkeeping for a Startup Business

Bookkeeping, by definition, is the process of recording a company’s financial transactions and history.

It is the first step in the broader accounting process which involves reporting and analyzing data to make business decisions.

Many entrepreneurs find that they are wearing too many hats as it is and they just
don’t have time to dedicate towards proper bookkeeping.

However, bookkeeping is crucial for any startup for several reasons:First and foremost, it helps companies make better financial and management decisions. Proper bookkeeping can help you understanding the key financial benchmarks that determine whether your company is operating successfully or not. Bookkeeping also helps with managing cash flow and answering questions such as: who owes you money, who do you owe money to, when should you send an invoice, when are your bills due, etc.

Second, consistent bookkeeping will help minimize the headaches when it comes to preparing your annual taxes. If you can provide your accountant with a well maintained balance sheet, cash flow statement, and profit and loss statement he/she will be able to dedicate their time towards making sound tax decisions rather than fixing problems with the financial statements.

Third, sound books will help you with planning your business’ next steps. By understanding key benchmarks such as cost to acquire a new customer and cost of goods sold you can begin to make educated decision about the best way to grow your business.

Fourth, investors require solid books. The frequency of which you report financial records will be determined by you and your investors. In any case, the more automated and uniform your financial reporting systems are for reporting crucial financial information the happier your investors will be. It will show to them that you understand your cash flow needs and the business key performing indicators that will allow the business to scale.

Now that you are on-board with the important of bookkeeping for a startup, let’s look at 10 of the most common types of bookkeeping accounts for a startup or any business for that matter:

Cash:

This is your most basic account and it tells you exactly how much cash you have in your
bank. Many businesses will monitor their cash account by separating cash receipts and cash
disbursements.

Accounts Receivable:

Not all companies will have accounts receivables. Receivables represent
money that is due from customers and is therefore only applicable to companies that sell
products or services prior to collecting payment or a portion of the payment upon the time of
sale. Tracking receivables will help you understand cash flow and keeping a detailed list of your various receivable accounts will help you stay on top of billing and invoices.

Sales:

The sales account is closely tied to cash and accounts payable but provides slightly
different insight. Sales is where you track anticipated incoming revenues from what you sell.
Tracking sales accurately will help you understand whether your business is on track to meet
predetermined metrics and benchmarks.

Accounts Payable:

Similar to accounts receivable, accounts payable represent money that you
owe to your suppliers and vendors for products and services that you did not pay for entirely
upfront. Tracking your payables will help you with managing cash flow, ensuring that you don’t
pay your bills twice, and may even make you eligible for discounts if you are able to pay early.

Inventory:

While inventory is not equivalent to cash or accounts payable it is certainly an asset on your balance sheet that needs to be carefully accounted for and tracked. Properly managing your inventory will help with understanding cash flow and anticipated production runs.

Loans Payable:

You loans payable account tracks the amount of capital that you’ve borrowed, how much you still owe, and how much is due in the next billing cycle.

Purchases or Cost of Goods Sold:

This account helps you understand the cost of delivering your product and service and when subtracted from your Sales account you end up with gross profit.

Payroll:

Payroll is the biggest expense for most businesses and should be monitored closely. Maintaining an accurate payroll account will pay dividends when it comes to tax and
government reporting requirements not to mention understanding your personnel expenses.

Retained Earnings:

Retained earnings are simply profits that are not paid out to owners or shareholders. Retained earnings are cumulative, or a running total, and demonstrate the profits that are reinvested back into the business.

Owner’s Equity:

This account simply tracks the capital investment that the owners’ have put into the business. This account is particularly pertinent if there are multiple owners who have put in disparate amounts of capital.

Do you Feel the business world is shifting for female entrepreneurs?

I believe the world is shifting in general and gearing up for a major adjustment in the rise of female entrepreneurs. I feel that in this area of business it is more acceptable for a woman to start her own company rather than rise to the top of a corporation. Even though we have seen a dramatic increase in women occupying the c suite level. When a woman decides to start their own company, they are paving their own road, not conforming to a more traditional route with traditional ideals. This is true however for all entrepreneurs, so I believe it is only natural for women to take this path as well.

While there is still a huge discrepancy in the number of women vs men actively involved in business and entrepreneurship, I think that the increasing number of women in influential roles, like Elizabeth Holmes of Theranos, Marissa Mayer of Yahoo, Lori Greiner on Shark Tank, or even Jessica Alba who co-founded The Honest Company, are role models who are challenging the status quo of a male-dominated business world. Because of these role models and the Female Entrepreneur support networks more and more women are seeing the opportunity in pursuing entrepreneurship. I think that the business ecosystem is changing as is the entrepreneurial culture, which is indiscriminately focused on achieving results , rather than following an existing business structure. Revolutionizing how the general public sees business, and I making it more enticing for women to jump in.

Yes, I do feel that the world is shifting for female entrepreneurs slowly but surely. Regardless of gender it’s all about who you know.Networking is key.

What Does Success Mean To You?

Travis Loring Co-Founder of Monthly Express:

Success means travel. My wife and I became entrepreneurs to be able to provide for our family and travel. We wanted no restraints and no bosses. Both of us dreamt up our company on our honeymoon in Capri and right then and there decided we could do this. Like a Doctor or a Lawyer goes to school for years, we decided to put in time to grow our company for the freedom it could provide.

Ana Bermudez Founder of TAGit:

Success is subjective to a person’s personality, and I believe a successful person is one that finds joy in what they do.

Delara Fadavi CEO and Co-Founder of MeegoTech :

Success to me is creating something that improves society or helps people live happier and healthier lives, and being able to see the project from start to finish.

Natacha Gaymer-Jones Founder of LegalTap:

Success to me isn’t the amount of money you have in your bank account, but it’s the knowledge you have gained. It’s cliche to say but it’s all about the journey.

Who’s your go to source for business advice and inspiration?

Travis Loring Co-Founder of Monthly Express:

My aunt Laura Slatkin, founder of NEST Fragrances in NYC. She has always been my source of inspiration, but now serving on the board of directors of MonthlyExpress she has provided me with guidance and invaluable advice. Being a successful entrepreneur herself is incredibly inspirational and makes me think less of the gender gap and more about just working hard. I believe that to be successful and or woman you have to want it. Also having like minded people around you for support and advice is necessary, no matter who you are.

Ana Bermudez Founder of TAGit :

Family, friends, mentors, and former business partners have become my pillars of advice and inspiration as I trek through this entrepreneurial journey. Different entrepreneurs have different personalities and styles. I enjoy surrounding myself with people who challenge me, provide a different perspective, and aren’t afraid to tell me the truth, no matter how uncomfortable or unpopular the truth may be.

Delara Fadavi CEO and Co-Founder of MeegoTech:

I don’t have a single person or source I go to for business advice; I like getting multiple opinions and extracting my own conclusions. With regards to my current startup, Meego, which is a simple motion-based security alarm to prevent laptop theft, I have been getting a lot of advice about how to from seasoned entrepreneurs and individuals, who have manufacturing experience from large tech companies. For more general advice and inspiration, I enjoy listening to Stanford’s Entrepreneurial Thought Leaders podcast and watching ABC’s Shark Tank.

Natacha Gaymer-Jones Founder of LegalTap :

I have several female mentors around me. One is a good friend of mine and business associate Suzanne Abate, who is the Founder of MyTimeBlocks, she gives me the straightforward no BS advice that always seems to hit the nail on the head when I need input. I also am the director of a women tech organization here in LA that has also been invaluable.

What female would you like to see on the $10 bill in 2020?

Travis Loring Co-Founder of Monthly Express:

First let me say that there are many women who belong our currency. I do wish that it was the $20 dollar bill because it is a much more common denomination. Who really has $10’s in their wallet? Harriet Tubman comes to mind as well as Wilma Mankiller. I think often we loose sight of our countries history. Both Native American suffrage and Slavery (suffrage). We see our founding fathers all the time but we are hardly reminded of the very real struggles of our nation. I think it makes us forget our founding principles and keeps us hostile in many ways. A reminder of the fight will humble most of us.

Ana Bermudez Founder of TAGit:

Any female! The U.S. is the largest economy in the world, and it didn’t reach that coveted position with a single gender, race, culture, belief-system, etc. Our currency should reflect the melting-pot that founded, and continues to push the U.S. economy forward.

Delara Fadavi CEO and Co-Founder of MeegoTech :

While currency typically features political figures, I would love to see a female scientist like Barbara McClintock on the $10 bill. Her discoveries of mobile genes in maize were foundational to modern genetic engineering, which is hugely important in today’s most cutting-edge medical advancements. I believe that honoring a scientist on our currency will also show how important STEM (science, technology, engineering, and math) fields are in the advancement of our country.

Natacha Gaymer-Jones Founder of LegalTap:

Marrisa Mayer of course! Favorite quote by her, “Search is an unsolved problem.”

What Is A Must read book or movie for entrepreneurs?

Travis Loring Co-Founder of Monthly Express:

“The Art of the Deal” this is not because of the author, but because of his relentless nature. I also read a lot of leadership books. Entrepreneurs are leaders, they are not bosses, or managers. Leaders have the ability to inspire and build confidence, it’s a trait I believe is within everyone but needs to be refined. My favorite book is George Washington,” Lessons in Leadership.” In this book Washington teaches us how to build relationships, think outside of the box, and not be afraid to fail. The book is not as straight forward as the Entrepreneur books that are out on the market today, but his lessons are practical and easier than you think to put into practice.

Ana Bermudez Founder of TAGit:

I have read many books throughout my career that have inspired me to be a better student, leader, business executive, and entrepreneur. I encourage entrepreneurs to always read, and to read diverse material. Paulo Coelho’s, The Alchemist, is a popular, highly-inspirational, and easy read.

Delara Fadavi CEO and Co-Founder of MeegoTech :

“inGenius: A Crash Course in Creativity” by Tina Seelig–This book isn’t the typical ‘how to be successful in business’ text, but I believe creating something memorable, or being someone irreplaceable requires you to be different, and that’s where creativity comes in. This book helped open my eyes to concrete ways to encourage myself to be more creative.

Natacha Gaymer-Jones Founder of LegalTap:

“Thinker Toys” by Michael Michalko, an amazing book that teaches you how to think about creativity and how to apply it in your daily life! Such a good book when you are in a rut and you need some inspiration! There are a lot of Aha moments as you turn each page!

Who’s in your business network?

Travis Loring Co-Founder of Monthly Express:

My network consists of a variety of people from tech geeks to beauty founders. Being from NY helps open my network and quickly, but living in Florida helps me make a difference on a local level. I am a past president of South Florida Interactive Marketing Association and that has absolutely helped MonthlyExpress get the right vendors in place to make our company successful.

Ana Bermudez Founder of TAGit:

Only the most amazing people, of course! Businesses rely on relationships (customers, investors, partners, etc.), and I enjoy growing my business network by becoming friends with individuals who are as motivated, driven, and trustworthy as I am.

Delara Fadavi CEO and Co-Founder of MeegoTech:

Dr. Jay Kunin and Kim Davis-King who I met through startup accelerators at the University of California, San Diego are my primary business strategy advisors. I also communicate with Mike Krenn, President of the San Diego Venture Group, for financial advice. I also have met with Nick Woodman, CEO of GoPro and UCSD alumni, for marketing advice, and he has been incredibly supportive and enthusiastic about our laptop security product.

Natacha Gaymer-Jones Founder of LegalTap:

Great question, in my business network are some of the most talented web developers, VC’s and entrepreneurs. I never separate work and play because I find it important to align all areas of my life with people that will stimulate growth. I never put my pencil down if that makes sense.

What’s the best piece of advice you’d give to other female founders?

Travis Loring Co-Founder of Monthly Express:

Be confident and know you can do it. You will fail a lot, and you will feel like the world is caving in, but keep going because it’s worth it. Be yourself too. Don’t think that its a mans world…it isn’t, its just the world. You may come across some adversity but chances are you won’t. And if you do, push through because thats the struggle everyone has. Also, be a woman. Don’t be a man. And don’t let anyone tell you to “man up” or “think like a man”. You are a woman so be one and be proud. You got this!

Ana Bermudez Founder of GetTagit:

Prepare yourself for one of the most arduous, challenging, and most rewarding journeys of your life! Commit to the process that it takes to reach your goals, and surround yourself with people who care about your success. Most importantly, enjoy every step and every milestone in your journey.

Delara Fadavi CEO and Co-Founder of MeegoTech:

I don’t think that female entrepreneurs need different advice than men; in order to be successful as a founder, you need to be working on something that you 100% believe in. Money should not be a driving factor in why a founder pursues a project; rather, I think that financial success will come as a result of creating something that betters society, and that can be scaled to make a sustainable profit. However, as a woman walking into a male-dominated meeting or conference, it can be intimidating at times, and my best advice for these situations is to stand tall and be confident in yourself and your knowledge. I have sensed that it can sometimes be more challenging to gain credibility in these types of situations, but that’s why I think it is always important to carry yourself like you mean business.

Natacha Gaymer-Jones Founder of LegalTap:

Finish what you’ve started! So many people I’ve come across have amazing ideas but their execution is poor. If you really want to move up in the world and compete side by side it takes diligence, patience and above all heart.

Thank you to all the female founders above, as well as those unmentioned. We applaud you for your courage, dedication, and entrepreneurial spirit..

28 Essential Hashtags To Use For Your Startup Business

Hashtags or the #symbol were originally created as a way to categorize messages, making it easier for users to find messages with a specific theme or content.

Hashtags ultimately help connect your Startup Business with an audience that shares similar interests, views, and insights.

When used routinely along with captivating relevant content, hashtags have the power to unleash tremendous value for your social network.

The hashtag list below includes hashtags that are in the “sweet spot” for growing your sphere of influence on both Twitter and Instagram.

These are hashtags that have been used over 2,000 times but less than 10,000. Therefore, they’re well known hashtags, yet not overly trending at this time. This sweet spot will allow for making it more likely your Startup’s content won’t get lost in the noise.

Looking 3 Steps Ahead: What Comes After the Startup Ideation Phase

What are the next steps after you come up with an idea for a new business?

After the ideation phase of a business, many teams loose focus. Fortunately, there is a tried and true blueprint that successful companies in all industries have followed in order to take a business entity from a spreadsheet into the real world.

Here are the three steps that all would-be Startup companies should consider after the initial visualization.

1 – How do you evaluate the current target market and market saturation?

Identifying competition should be first on the list of any start up. This will help a company to more accurately define its own role in the marketplace, narrowing the sales funnel and eventually increasing the ROI of all marketing efforts.

A high percentage of the first funds that you receive for your business idea will likely be earmarked for a highly detailed differentiated market analysis. Google Trends and the Google Keyword Tool are a great place to start, but the search should definitely not end there.

A startup company should consider geographic and demographic data from across the board in order to identify the audience that is making the current purchases of the products that it is considering selling.

More than 50% of businesses now include Facebook and Twitter commentary in their overall assessment of market saturation. If there are many comments about a product or industry trend, but most of the comments are negative, this means something much different than commentary that is overwhelmingly positive.

Researchers should be attuned to the fact that Facebook is prone to be much more negative than Twitter regardless of issue.

2 – How do you determine if your idea is profitable and scalable?

Profitability is a function of the perceived market value of your product, which can be approximated by a price/value industry matrix, minus the expenditures of your company per unit produced. With a volume that outpaces your fixed costs, you have a viable business structure, at least in theory.

Scalable ideas must incorporate variable costs such as taxes, marketing, promotion, distribution and government compliance into the equation. These kinds of calculations may require some professional assistance, but they should be determined before the initial start of production.

50% of businesses, and 60% of investors, want to see some sort of breakeven analysis in an initial business plan in order to help determine the overall viability of a would-be company. This should definitely be included; however, it should not be the end of the marketing analysis. Although it can be quite difficult to project profitability without a round of sales, every company should attempt to do this without exaggerating results, especially if multiple rounds of funding will be required to retain viability.

3 – How do you secure the flow of your marketing information to your customer?

One of the first things that an embryo company should consider is its niche in the marketplace. This is incredibly important in order to solidify the proper distribution of the marketing message. No matter how big or small a company, compliance with the current flow of information is critical. Business no longer runs the world of business – telecommunications does. This will only become more apparent as time goes on.

Currently, less than half of the Fortune 500 is mobile compliant by the standards of Google. 70% of those companies barely pass muster. 100% of these companies are spending millions in order to become fully compliant.

As of April 2015, any company that is not fully compliant by Google standards will begin to
lose visibility within the search engine, especially within the mobile search market. If this is a priority to a multibillion dollar company, this is a virtual death sentence to any high growth start up.

Guest Blogger Cameron Johnson is a business consultant and entrepreneur.
Over the course of his career he has conducted case studies on both social media optimization and non-profit marketing. Cameron has also had the opportunity to speak at international business conferences and was recently recognized as one of the world’s top 100 advertising experts to follow on social media

We believe entrepreneurs are changing the world. Our team is dedicated to supporting you with the resources for success.

Our Work

Fit4Mom

The Startup Garage dialed in the Fit4Mom accounting team. We set up their inventory management, analyzed their revenue streams and made recommendations to increase their profitability and revenue. We were first hired to build their business plan and financial model, and have continued with them through our CFO services.

Powur

TSG created revenue models, supported in their commission structure, developed use of funds, and cap table management. Our team began by developing all of their investor documents and supported them through three rounds of capital raising. We are currently working with them on their fourth round of capital raising.

Kids Choose Charity

The Startup Garage helped Kids Choose Charity get clear on their target market and what their product actually was. We also connected them with community resources. KCC is just one non-profit organisations out of a dozen that TSG has worked with over the years.

Women Network

MintShow

The Startup Garage team was able to help MintShow get organized around their vision and educate them on the capital raising process. We also constructed their investor deck. Within the past two years we’ve continued to work with them on a number of their subsidiary companies.

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Sheila Levison

Controller

Sheila has an extensive background as an accountant, auditor, CPA and controller for a broad range of companies. With over 20 years of experience in the field, she provides expert level accounting services specifically tailored to the individual client’s needs. Sheila helps businesses streamline and run more efficiently by being the gatekeeper for all business activities. She has negotiated with the IRS, handled EDD audits, hired and worked with attorneys and handled public and private audits from beginning to end. Sheila has provided accounting services for a variety of companies ranging from KPMG, independent auditing, Frontier Airlines, marketing/manufacturing, real estate and various fitness companies.

Sheila is a CPA and has a Bachelor of Science degree from UCLA with a focus in the areas of mathematics and applied science (emphasis in operations research). Her specializations also include computer science and business administration.

Michael Russell

Fractional CFO

Michael A. Russell, “Mike,” has over twenty-five years of experience as a CFO – principally with rapidly growing, technology-based, manufacturing and software companies. He has been associated with both private and public companies, gaining experience in nearly every role in a financial department. These responsibilities have included functions in accounting, credit, and collections, treasury, financial planning and budgeting, information systems and human resources over the course of his career.

Mike’s record of equity financing speaks for itself, having participated in rasing over $70 million. As a consultant and advisor to emerging companies, he has significant experience in the development of financial strategy and direction, monitoring and explaining performance versus the agreed-to plan. As a CFO for companies in the startup phase, Mike is able to span the requirements of a financial management position from day-to-day detail to assessing the overall view of the strategic direction of the organization. he has developed and maintained relationships with bankers, investors and shareholders.

Mike attended UCLA, where he received a BSEE and MBA in Finance.

Tyler
Jensen

Founder & CEO

Tyler is a serial entrepreneur, startup coach, early stage PT CFO and trusted advisor to numerous founders. He is passionate about helping entrepreneurs start companies that matter. Tyler has helped launch over 200 companies, non-profits and social enterprises.
The first company he started and sold is VAVi Sport & Social Club which grew to over 25,000 members in six years, and was recognized as San Diego’s 30th & 32nd fastest growing private company in 2006-2007 by the San Diego Business Journal and sold for over 25 times the capital investment.

Prior to launching VAVi, Tyler served as the Deputy Campaign Manager for Tim Kane for Congress, where he crafted and managed all aspects of launching and managing a United States Congressional Campaign. He was responsible for the fundraising plan creation & execution, staff volunteer recruitment & management, as well as marketing plan design & implementation. The design and production of campaign promotional materials and other creative marketing initiatives led to substantially increased name recognition and voter support.

Tyler has served as a trusted advisor on numerous Non-Profit and Corporate Board of Directors. He was born in Virginia and spends his free time stand up paddle boarding and building furniture.

Mario
Domogma

DOMAGMA

Mario is a Business Analyst for The Startup Garage. In addition to his educational background, Mario is also passionate in sustainable energy and renewable transportation, noted by his experience working with Tesla Motors. He brings an entrepreneurial bend to his work and a unique perspective to his clients that is tailored to their market.

Favorite quote: “The best way to predict the future is to create it.” – Abraham Lincoln

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The Startup Garage

Beginner’s Guide to Raising Capital

Business Plan Basics

Guide to Raising Capital from FFF

Guide to Raising Capital from Angel Investors

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4a – Beg Guide to Raising Capital

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Please send me the following ebooks via email.

Beginner’s Guide to Raising Capital

Business Plan Basics

Guide to Raising Capital from FFF

Guide to Raising Capital from Angel Investors

Crowdfunding 101

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We believe entrepreneurs are changing the world. Our team is dedicated to supporting you with the resources for success.

Our Work

Augen Optics

The TSG team put together an investor deck and prepared Augen Optics to pitch to a strategic partner. We coached them in generating their pitch. Augen Optics is a spin-off company of the original Augen. We helped them explore whether the opportunity was the right direction for their overall growth.

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We believe entrepreneurs are changing the world. Our team is dedicated to supporting you with the resources for success.

Danielle Greenhouse

Community Development Manager

Danielle Greenhouse is the Operations Manager at The Startup Garage. Prior to joining the TSG team, Danielle worked in the financial services industry with a focus on Operations, Community/Business Development and Meeting & Event Planning. Earlier in her career Danielle worked as a trader and Relationship Manager at Fidelity Investments and she also gained administrative and operational experience working in the Hedge Fund industry. Additional experience includes a background in Early Childhood Development.

Danielle now lives in the San Diego, CA area with her husband of 14 years and her two daughters. She is a graduate of the University of Connecticut and enjoys spending time outdoors with her family and 13-year-old Boston Terrier Roxy. Other hobbies include recently learning to ski, attending regular fitness classes and baking.

Danielle also serves as a Parent Volunteer for the North County Consortium for Special Education (NCCSE). NCCSE is a Special Education Local Planning Area (SELPA) whose goal is to ensure that every eligible child receives appropriate special education services within their school district.

Mark Meyerdirk

Managing Partner

Early in his career Mark built his own business with over 120 employees; he has also operated a franchise company with 300 offices and 3,000 sales agents. Mark works with venture funds, private equity funds and commercial real estate developers. He serves on numerous boards of directors, has started up dozens of new companies, has worked with investment banks as a FINRA registered representative and has traveled to and worked with companies all over world on complex business projects.

Mark operates his consulting company, Meyerdirk Consulting Group, Inc., which specializes in capital formation strategies for emerging companies, franchising and is the co-founder of the Alternative Investment Forum designed to connect high net worth investors, family offices and private equity firms with early stage companies.
Mark lives in the Kansas City area with his wife of 41 years and has 4 children and 5 grandchildren. He is a graduate of the University of Colorado – Boulder and Washburn University School of Law.

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We believe that entreprenuers are changing the world, and we are dedicated to giving them the resources they need to attract the investors they want.

Lauren
Diaz

PRESIDENT

Lauren M. Diaz, CPA, is the President at The Startup Garage, joining the team in 2016.

Lauren worked as a Director of Finance for CSX, a Fortune 250 Transportation Company, based in Jacksonville, FL. During her six-year career at CSX, Lauren held multiple Finance and Marketing roles, gaining valuable experience in financial modeling, pricing analytics, market valuation and capital strategy. Prior to CSX, Lauren spent two years at a Public Accounting firm in Miami, FL.

Lauren is a passionate cyclist and triathlete and is the CFO and Director of Sponsor Strategy for DelaFina Racing, a not-for-profit women’s cycling team and club. DelaFina Racing seeks to empower women and build confidence through the sport of cycling.

Lacie Ward

Community Operations Manager

Lacie Ward is the Community Operations Manager at The Startup Garage. Prior to joining the TSG team, Lacie worked in the Brand Development industry with a focus on Public Relations, Community/Business Development and Social Media Management. Lacie attended California State University San Marcos where she studied Communications with an emphasis in Mass Media and was involved with the Peer Mentorship Program, Greek Life and was an Orientation Team leader.

Lacie was born and raised in San Diego, CA and doesn’t plan on leaving anytime soon. She enjoys spending time outdoors and is an animal rights activist. Other hobbies include cooking, gardening and spending time at the beach.
Lacie also serves as a volunteer for Kitchens For Good. Kitchens for Good aims to break the cycles of food waste, poverty and hunger through innovative programs in workforce training, healthy food production, and social enterprise.

Victoria Lakers

Fractional CFO

Victoria possesses over fifteen years of experience in finance, capital raising, marketing and sales, and operations development, including experience at a top 10 global private equity firm and in founding and selling her own company. She has participated in raising over $2.5 billion for various alternative investments.

Learn More About High-Performance Startup Financial Services.

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